Watch for These Errors When Filing for COVID-19-Related Employer Credits
April 23, 2020 - The IRS is warning employers to watch out for these common mistakes when filing Form 7200, Advance Payment of Employer Credits Due to COVID-19.
Substantial Presence Test Relief for Certain Eligible Non-Resident Aliens
April 22, 2020 - The IRS has granted relief from the “number of days requirement” applicable in the “substantial presence test” to certain non-resident alien individuals who will be in the U.S. in 2020 for more days than anticipated due to travel restrictions arising from the COVID-19 pandemic.
COVID-19 and Church Giving: How Does Your Church Compare?
April 21, 2020 - We surveyed churches of all sizes across the U.S. to gauge the impact and trends of recent events on giving. See how your church compares.
IRS Extends Deadline for Self-Correction of 403(b) Plan Provisions to June 30
April 21, 2020 - If your nonprofit sponsors a 403(b) retirement plan with provisions that fail to meet Internal Revenue Code (IRC) Section 403(b) requirements, you can correct this by adopting plan amendments. The IRS has extended the deadline to June 30, 2020.
Waiver of Time Requirements for Certain Individuals Eligible for the Foreign Earned Income Exclusion
April 21, 2020 - The IRS has granted individuals otherwise eligible for the foreign earned income exclusion to waive days of presence in the U.S. due to the COVID-19 pandemic.
IRS Provides FAQs About the Employee Retention Credit
April 20, 2020 - Organizations that did not receive or apply for a Paycheck Protection Program loan may be eligible to claim the benefits of the Employee Retention Credit. The IRS has provided a set of FAQs on the credit.
IRS Extends Filing Deadline for Form 990 and Other Tax Forms
April 10, 2020 - In recently released Notice 2020-23, the IRS has provided filing deadline relief for virtually all tax forms due between April 1, 2020 and July 15, 2020.
SBA Releases Additional Paycheck Protection Program FAQs
April 7, 2020 - The Small Business Association (SBA) has released additional frequently asked questions about the Paycheck Protection Program (PPP). Here's what the FAQs clarify.
SBA Provides Faith-Based Organization PPP/EIDL Guidance
April 5, 2020 - The SBA has released a FAQ that more fully addresses the concerns many churches and faith-based organizations have raised regarding eligibility for and the impact of receipt of a Paycheck Protection Program (PPP) Loan or Economic Injury Disaster Loan.
Follow Up to the April 1, 2020 CapinCrouse Webcast
April 2, 2020 - A look at some common questions that arose during our April 1, 2020 nonprofit tax webcast on COVID-19 legislation.